Crypto-focused political committees are flexing their growing bipartisan political muscle in Texas, spending more than $9 million on races this cycle as Tuesday’s primaries deliver a string of wins for industry-backed candidates across both parties.
Houston Democrat Christian Menefee defeated fellow Democrat Rep. Al Green in the Democratic primary runoff for Texas’s 18th Congressional District, after Republican-led redistricting dismantled Green’s longtime seat and forced the House Financial Services Committee member into a rare incumbent-on-incumbent showdown.
“Rep. Green’s defeat proves that anti-crypto hostility carries real electoral consequences,” Geoff Vetter, a Fairshake spokesperson, told CoinDesk. “Fairshake was the difference-maker in this race, and we will continue to aggressively back leaders like Rep. Menefee across the country.”
In the Republican Senate primary, Texas Attorney General Ken Paxton toppled longtime Sen. John Cornyn. In other races, Fairshake’s Republican affiliate, Defend American Jobs, and its Democratic counterpart, Protect Progress, backed candidates on opposite sides of the aisle, while the separate crypto-focused Fellowship PAC supported Paxton to the tune of $500,000.
Texas had only one night of primaries, but Tuesday’s results suggest the crypto industry is already positioning aggressively with a well-capitalized war chest for the 2026 midterms, when Democrats are favored — by a slim margin — to sweep both the House and Senate.
Worldcoin [WLD] rallied over 22% in the last 24 hours while trading volume climbed 38%, reflecting aggressive speculative activity returning across the broader market.
The asset reached $0.3515 after rebounding sharply from its recent consolidation structure, while market capitalization also expanded nearly 13% during the recovery phase.
Rising participation accompanied the rally, suggesting traders had started repositioning after weeks of prolonged downside pressure.
Exchange outflows continue despite the rally
Spot netflow activity remained negative at -$167.45K despite WLD’s sharp upside expansion, showing that exchange withdrawals still dominated broader token movement.
Persistent outflows usually reduce immediate sell-side pressure because traders move assets away from exchanges instead of preparing them for distribution.
This behavior strengthened the bullish structure developing around WLD’s recent breakout attempt.
Earlier inflow spikes had triggered heavy downside volatility during September, yet recent activity showed far weaker exchange supply pressure.
In addition, netflow readings stayed relatively compressed throughout May, indicating that large holders had not aggressively rushed to sell into strength.
If outflows continue expanding while price stabilizes above support, WLD could maintain stronger structural conditions for continuation.
Source: CoinGlass
WLD escaped its multi-month downtrend
WLD broke above its descending channel structure after reclaiming the critical $0.3416 support level during the latest rally attempt.
At the time of writing, price had remained trapped inside the bearish channel for several months before buyers finally pushed above descending resistance.
The breakout developed near the lower end of WLD’s broader historical range, making the move technically significant after prolonged compression.
In addition, price reclaimed the immediate support zone and started approaching the next major resistance near $0.4387.
Relative Strength Index readings climbed sharply above 74, showing that bullish strength had accelerated rapidly following the channel breakout.
RSI had remained mostly compressed below neutral levels during the extended downtrend before suddenly reversing upward in May
The recovery also followed several failed attempts earlier this year, which previously forced price back into the channel structure.
If bulls sustain control above the breakout zone, WLD could gradually attempt a stronger expansion toward the higher resistance clusters around $0.4387 and $0.6746.
Source: TradingView
Long traders maintained aggressive positioning on WLD
Binance top trader positioning remained heavily bullish, with 70.35% of accounts still holding long exposure against only 29.65% shorts.
The Long/Short Ratio also climbed to 2.37, highlighting strong directional conviction among leveraged participants despite recent volatility across the market.
Bullish positioning had gradually expanded throughout May as WLD strengthened structurally above local support zones.
The trend suggested traders increasingly anticipated continuation after the descending channel breakout was confirmed.
However, crowded long positioning could also increase liquidation risks if price suddenly loses support during profit-taking phases.
Even so, bullish traders continued defending exposure aggressively instead of reducing leverage, showing confidence that WLD’s breakout structure could remain intact during upcoming trading sessions.
Source: CoinGlass
Conclusively, WLD’s breakout above its multi-month descending channel has strengthened bullish sentiment across both spot and derivatives markets.
Negative Spot netflows continued reducing immediate sell-side pressure, while top traders maintained aggressive long positioning above 70%.
RSI conditions have already approached overheated territory, so short-term volatility could still emerge near resistance.
However, if buyers continue defending the $0.3416 breakout zone, WLD could gradually extend its recovery toward the $0.4387 resistance region after months of sustained downside pressure.
An electric vehicle tax that came into force this year inadvertently cost Ukraine thousands of ground drones it needs on the front lines, the CEO of a major defense trade association said.
Had the 20% value-added tax, which went into effect in January, not been introduced, Ukraine’s military could likely have bought 5,000 more uncrewed ground vehicles in the first half of 2026, said Ihor Fedirko, the CEO of the Ukrainian Council for Defense Industry.
“We know that our government is procuring 25,000 in the first half of this year. If they could procure 20% more, that’s 5,000,” Fedirko told Business Insider. “For our armed forces, that’s a lot.”
The new tax also threw the local ground drone industry and military into disarray at the start of the year, causing contracts to dry up for months and several major manufacturers to nearly go out of business, he added.
Ukrainian lawmakers are now racing to undo the tax, with some politicians saying it’s handicapped a key war industry that Kyiv is trying to rapidly expand.
Nina Yuzhanina, a lawmaker for Ukraine’s European Solidarity party, said in a statement last week that the EV tax “almost ceased” the supply of ground drones to the military in some areas.
She and 44 other Ukrainian parliamentarians introduced a bill on May 19 aiming to fix the core issue: because uncrewed ground vehicles, or UGVs, are so new, they were lumped together with EVs by the country’s trade standards. The new law would define the drones as a separate good, exempting them from the 20% tax.
The bill is set for discussion over the next two weeks, but Fedirko estimates that if the law passes immediately, it would still take about two months for its effects to fully trickle down and restore production.
That comes as Ukraine’s defense ministry said it plans to buy a total of 50,000 ground drones by the end of the year. Ukrainian UGVs can cost between $5,000 to $100,000 apiece, depending on the type of system and the gear it’s equipped with.
“The exemption would save more than eight to 10 billion hryvnias, which is about $200 million,” Fedirko said of the tax’s impact on the local industry. “For us, it’s a huge number.”
How Ukraine began taxing its own war production
This year’s VAT on ground drones is unusual for Ukraine. Under martial law, most of the country’s war industries aren’t subject to any such taxes.
Ukrainian infantry walk with ground drones along the Kostiantynivka-Kramatorsk in Donetsk.
Alex Nikitenko/Global Images Ukraine via Getty Images
This sort of consumption tax is collected at every step of the supply chain, but is typically eventually passed on to the end consumer — in this case, Ukraine’s own military.
Ground drone manufacturers didn’t actually have to worry about the tax until recently; Ukraine had been exempting EV duties since 2018.
But that exemption expired on January 1.
Military procurers found that their ground drone budgets needed to be 20% higher, but initially were confused by the new process because defense equipment and weapons are exempt from VAT by default, Fedirko said.
Amid the turmoil, drone makers couldn’t find state contracts — the lifeblood for major manufacturers — for three months, he added.
“Three months without procurement, that’s crazy. It’s impossible to live without it,” Fedirko said.
Production chaos while at war
The Ukrainian defense ministry highlighted the bottleneck in April, saying it was working quickly to “unblock” contracts and speed up deliveries.
But local firms had struggled to stay afloat in the meantime. A 20% cut to a firm’s budget, in an industry already desperate for financing, can be a killer blow.
The new VAT also adds weeks of bureaucratic delay for an industry at war, with firms having to loop in state tax services and meticulously document the procurement process.
Fedirko said some firms may have had to drop capacity to a third of last year’s to stay solvent, with cuts to employees or engineers.
A few tried to reclassify their drones as tanks or armored vehicles, while others sold their UGVs to volunteer organizations such as ComeBackAlive, which supplies military units on an ad hoc basis.
Tencore, the manufacturer of the popular tracked TerMIT drone, said it had to rely on these volunteer organizations when it couldn’t find state contracts for five months.
Tencore makes the TerMIT modular tracked drone, which can be fitted with small arms to conduct assault missions.
Chris McGrath/Getty Images
“For UGV manufacturers, the VAT issue was not an accounting detail,” the firm told Business Insider. It works with the Ukrainian Robotics Force association, which falls under Fedirko’s UCDI umbrella.
A fix six months in the making
It’s taken Ukraine this long to address the tax problem because military ground drones were so new that lawmakers had trouble defining them, Fedirko said. European Union commodity rules, on which Ukraine bases its own goods classifications, also don’t have clear specifications for these uncrewed systems.
Though ground drone procurement resumed in the spring, manufacturers like Tencore say the months of delay have already cost frontline troops the equipment they need.
“For Ukraine, six months feels like infinity,” Fedirko said.
When reached by Business Insider, the defense ministry declined to comment on the parliamentary bill introduced last week, saying it’s not allowed to influence its consideration or debate.
However, it said Ukraine’s UGV industry has so far grown to over 280 companies, with 550 types of drones for sale.
As the war moves into its fifth year, Ukrainian troops are increasingly relying on these platforms to conduct missions on the front lines, including logistics, evacuations, and attacks on Russian positions.
Ukrainian President Volodymyr Zelenskyy said in April that his forces had used ground drones to carry out over 22,000 missions in the first three months of 2026 alone.
Booking Holdings Inc. (NASDAQ:BKNG) is one of the 12 Best Revenue Growth Stocks to Buy According to Wall Street Analysts. On April 29, DA Davidson reduced its price target on Booking Holdings Inc. (NASDAQ:BKNG) from $240 to $230 and maintained its Buy rating on the stock after the company reported its Q1 results.
The research firm pointed to the impact of the conflict in the Middle East, which flared up during the later part of the quarter and impacted Middle East inbound and outbound travel. However, Booking Holdings Inc. (NASDAQ:BKNG) still delivered generally solid quarterly results. DA Davidson noted that, outside of the Middle East-related challenges, the company has not yet seen broader weakness in global travel demand linked to the conflict.
DA Davidson and TD Cowen Cut Booking Holdings (BKNG) Price Targets
On the same day, TD Cowen analyst Kevin Kopelman cut the firm’s price target on Booking Holdings Inc. (NASDAQ:BKNG) from $240 to $230 and kept a Buy rating on the stock.
The firm noted that the company’s results missed because of the impact of the Iran conflict, including disruptions in travel between Europe and the Asia-Pacific region. The analyst noted that Booking Holdings Inc.’s (NASDAQ:BKNG) guidance assumes there will be no improvement in travel trends during May and June. Despite this, TD Cowen believes that the travel demand is solid in other areas, with accelerating trends in the US and stable demand within Europe and the Asia-Pacific region.
Booking Holdings Inc. (NASDAQ:BKNG) is a leading global travel technology company that provides online travel and related services.
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U.S. President Donald Trump said it was “critically important” that the CFTC keep “exclusive authority” over prediction markets, echoing CFTC Chair Michael Selig in a post on Truth Social, his social media platform, late Tuesday afternoon.
“Under my leadership, we are setting ‘rules of the road’ that are the Gold Standard for the States,” he posted. “We cannot have SCUM like Chris Christie, Letitia James, Tim Walz, and JB Pritzker setting the rules!”
Former New Jersey Governor Chris Christie has defended states’ authority to regulate gambling products, which he likened to prediction markets, on various occasions.
New York Attorney General Letitia James filed lawsuits similarly alleging that some prediction markets are violating state gambling laws; Illinois, headed by Governor J.B. Pritzker, sent a cease-and-desist; and Minnesota Governor Tim Walz last week signed a law enforcing criminal penalties for operating prediction markets.
Pritzker responded in a post on social media platform Bluesky, saying Illinois had taken “action to prevent and ban insider trading with online prediction markets.”
“The most corrupt President in our nation’s history wants to make sure states like ours can’t regulate prediction markets so his family and administration can keep profiting,” he posted.
The CFTC, led by Selig as the sole commissioner on the agency, has filed lawsuits and amicus briefs against various states, including the ones tied to the officials mentioned by Trump, defending its jurisdiction over prediction markets.
At the heart of the legal dispute is the question of whether prediction market contracts tied to sports and entertainment are really just gambling products dressed up as a novel financial instrument. The CFTC has taken the position that all prediction market contracts offered by regulated designated contracts markets (DCMs) fall under its jurisdiction, and that states do not have the right to infringe on that.
States, meanwhile, have taken the position that these contracts are actually gambling, and therefore should be supervised by state gaming regulators or banned entirely in states that don’t allow such products.
Court cases have gone up to the federal appellate court level, and the issue is likely to appear before the U.S. Supreme Court at some point.
Beyond states
“Other Countries are after this new form of Financial Market, and we want to remain at the top,” Trump’s post continued.
A number of countries have recently banned prediction markets from operating within their borders, including Indonesia, Spain and India in the past week.
The U.S. government is also probing prediction markets, with a House of Representatives committee investigation being confirmed last week.
Over the weekend, The New York Times reported that the CFTC, under former Acting Chairman Caroline Pham, sidelined officials at the agency who raised concerns about approving crypto and other companies — specifically with ties to Trump’s family businesses — that had applied for DCM approvals.
Neither the CFTC nor a spokesperson for Moonpay, Pham’s current firm, immediately returned a request for comment on the article.
Trump’s family has ties to various prediction market providers, with Donald Trump Jr., one of the president’s sons, acting as an adviser to both Polymarket and Kalshi. Gemini, the crypto exchange launched by Cameron and Tyler Winklevoss, both public Trump supporters, also launched a prediction market platform and filed to self-certify parlay-type contracts late last week.
Trump also referred to his campaign trail pledge to make the U.S. the “crypto capital” in his post on Wednesday.
“Likewise, and even more importantly, where we are currently the Crypto (Bitcoin, etc.) Capital of the World, other Countries are trying diligently to replace us in that capacity, but we won’t let that happen,” he posted.
Hyperliquid’s market structure has increasingly strengthened as sustained trading activity and liquidity expansion reinforced broader bullish momentum recently.
Buyers also maintained a stronger conviction because platform growth continued translating directly into rising token demand beneath current conditions.
HYPE later surged 133% within ninety days after rallying from sub-$30 levels toward a fresh peak near $64.27 during late May. That expansion also pushed valuation near the broader $64.2 billion all-time high while derivatives participation accelerated aggressively across markets.
Source: X
Meanwhile, Open Interest [OI] climbed beyond $2.5 billion as rising taker flows and healthy funding rates reinforced continuation momentum further. Platform revenues also supported ongoing token buybacks, tightening the circulating supply beneath expanding demand conditions.
However, elevated leverage near all-time highs still increases liquidation risks if profit-taking starts overwhelming fresh liquidity absorption.
ETF inflows and buybacks reinforce HYPE demand structure
Hyperliquid’s momentum structure increasingly deepened as institutional flows started reinforcing the earlier surge in derivatives-driven participation recently. Market conviction also strengthened because protocol-driven demand continued absorbing supply beneath expanding speculative activity.
ETF products tracking HYPE later attracted roughly $81 million in cumulative inflows, while daily inflows peaked near $25.5 million on the 20th of May.
Source: Farside
That mechanism steadily reduced circulating sell pressure while supporting stronger baseline demand beneath volatile market conditions.
However, rising leverage dependence increasingly leaves HYPE vulnerable if liquidation pressure eventually starts overwhelming institutional and protocol-supported demand absorption.
Whale profit-taking tests HYPE rally strength
Hyperliquid’s rally increasingly entered a redistribution phase as earlier ETF inflows and buyback-driven momentum started meeting heavier whale profit-taking pressure recently.
Market participants also shifted attention toward whether organic demand remained strong enough to absorb larger exits near all-time highs.
OnchainLens later tracked wallet 0x632B selling another 170,000 HYPE for roughly $10.54 million near the broader $61 region. That activity pushed the total twenty-four-hour distribution toward roughly 321,000 HYPE worth nearly $19.88 million at a $61.81 average price.
Source: X
Meanwhile, the wallet reduced holdings to only 30,000 staked HYPE valued near $1.78 million beneath current conditions.
Source: X
That behavior increasingly reflected strategic capital rotation after HYPE rallied sharply from below $40 toward recent highs near $64, testing whether fresh buyers could maintain continuation momentum.
Final Summary
Hyperliquid [HYPE] maintained strong momentum as rising liquidity, ETF inflows, and protocol buybacks reinforced broader bullish market structure.
HYPE now faces a critical absorption test, where whale profit-taking could challenge continuation momentum beneath elevated leverage conditions.
LAS VEGAS: Gage Jump of the Athletics pitches against the Los Angeles Angels in a spring training game at Las Vegas Ballpark on March 7, 2026. (Photo by Ethan Miller/Getty Images)
Getty Images
Gage Jump is scheduled to make the jump to an MLB mound tonight for the Athletics. The 23-year-old left-hander was called up from Triple-A Las Vegas to face the Seattle Mariners in Sacramento.
Here’s a suggestion for the rookie’s first pitch at Sutter Health Park: play Van Halen’s hit record “Jump”. Get all the fans singing, “Go ahead, Jump!”
The Athletics believe the hard thrower is ready for such a leap. He struck out 56 in 38 innings over nine starts for Las Vegas with a 4.50 ERA and 0-2 record.
What Athletics manager Mark Kotsay saw with his own eyes in spring training was more important than any numbers on a sheet of paper.
“Today, if you really dissect it and look at fastball command, the consistency of landing pitches in the zone, that’s the final touch,” Kotsay told Martin Gallegos of MLB.com in March after Jump had a good outing against the Cincinnati Reds. “He’s figuring that out, and we’re going to work on that. That’s kind of the last polish for him. He’s got the weapons to pitch in the big leagues. Really impressive. Hard not to like, right?”
A month earlier, in workouts prior to spring games, Kotsay told Gallegos’ that Jump’s preparation and eagerness to learn were impressive, too.
“He knows what he wants to do,” Kotsay said. “He’s very advanced in terms of preparation and knowledge of what he feels like he does well. It’s great to see a young pitcher have an understanding of his abilities.”
Why Is Jump Highly Ranked?
MLB Pipeline ranked Jump as the Athletics’ No. 3 prospect behind 19-year-old shortstop wonder Leo De Vries and 22-year-old lefty Jamie Arnold, picked No. 11 overall in 2024. Jump was No. 41 overall in MLB.com’s preseason rankings.
ATLANTA: Athletics prospect Gage Jump pitches in the 2025 All-Star Futures Game at Truist Park on July 12, 2025. (Photo by Jamie Squire/Getty Images)
Getty Images
He pitched in the 2025 All-Stars Futures Game. The 6-foot, 200-pounder went 4-1 with a 2.32 ERA, 45 strikeouts and only 5 walks at High-A Lansing (MI) last year, then was promoted to Double-A Midland (TX). That was more challenging: 5-6, 3.64 ERA, 86 strikeouts, 29 walks.
Jump showcased his upper-90s fastball in 2026 spring training. The Athletics sent him to Las Vegas and basically said show us some other stuff. They wanted him to master a changeup that would make the heater even more devastating.
He hasn’t truly mastered any one pitch, but has utilized a nice mix thus far in 2026. His best outing came a week ago when he fanned nine without a walk over seven scoreless innings.
The fastball has averaged 96 mph and produced a 31% swing and-miss rate according to Synergy Sports Technology. He’s throwing more sliders and curves while mixing in the changeup and an occasional sweeper. They all come from a low arm angle, adding depth and deception.
Collegiate Rollercoaster
Jump was highly recruited in high school, where he was ranked the No. 1 left-hander and No. 5 prospect overall in pitching-rich California. That was at JSerra Catholic in San Juan Capistrano. Current big leaguers Royce Lewis of the Minnesota Twins and Austin Hedges of the Cleveland Guardians preceded him there.
The San Diego Padres picked him in the 18th round of the 2021 MLB Draft. Many teams were interested, but he dropped in the draft as they figured he would honor his collegiate commitment to UCLA. He did.
He had a lukewarm freshman year, pitching only 16 1/3 innings across seven outings, including three starts. He struck out 22 and had a 1-1 record and 3.86 ERA. Important to Jump was making the Director’s Academic Honor Roll for the fall, winter, and spring quarters.
Turns out, that was the best he could do on the mound for the Bruins. He missed the entire 2023 season after having Tommy John surgery and transferred to Louisiana State, where coach Jay Johnson had recruited him hard in high school.
FAYETTEVILLE, AR: Gage Jump of the LSU Tigers faces the Arkansas Razorbacks at Baum-Walker Stadium at George Cole Field on March 30, 2024. (Photo by Wesley Hitt/Getty Images)
Getty Images
“I just wanted to be in the SEC (Southeastern Conference),” Jump told reporters in January of 2024. He also said he was worried about the future of the PAC-12 Conference.
He was right. UCLA and three other schools soon bolted for the Big Ten; Arizona State and three others went to the Big 12; Stanford and California to the Atlantic Coast Conference.
Jump came back from the layoff better than ever, going 6-2 with a 3.47 ERA and fanning 101 over 83 innings, walking only 22.
The Athletics drafted him in the second round that summer, No. 73 overall, and signed him for $2 million. That was more than 14 of the 15 picks immediately ahead of him got.
In Good Company
When he throws his first pitch tonight against the Seattle Mariners, Jump will become the 77th of 239 players drafted from LSU to play MLB ball.
The list includes right-hander Paul Skenes of the Pittsburgh Pirates, picked No. 1 overall in 2023, former slugger Albert Belle and current Chicago Cubs third baseman Alex Bregman and right-handers Kevin Gausman of the Toronto Blue Jays and Aaron Nola of the Philadelphia Phillies.
OMAHA, NE: Paul Skenes of the LSU Tigers pitches against the Wake Forest Demon Deacons at Charles Schwab Field on June 22, 2023. (Photo by Jay Biggerstaff/Getty Images)
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LSU has had at least one former player make an MLB debut in of 32 of the past 36 seasons.
Overall, 103 MLB players went to LSU. Among stars at the school who found pro success before the MLB Draft began in 1965 were shortstop Alvin Dark (1946-60), first baseman Joe Adcock (1950-66) and right-hander Bill Lee (1934-47) whose 29 shutouts. 169 wins and 182 complete games are the most in MLB by a Tigers alum.
Gage Jump’s Future With Athletics
Jump has pitched only 150 2/3 innings in the minors and is hardly a finished product. This opportunity came up when veteran Aaron Civale went on the injured list with tendinitis in his right shoulder.
The organization is banking on Jump’s intellect as much as his physical ability, reasoning that he should not be overwhelmed. He’ll need to throw quality strikes, however, something that was a bit of a concern at Las Vegas.
In 38 innings, he walked 20. That’s way too many and dampens his 56 strikeouts and only 36 hits allowed.
Even the greatest leapers in sports from Michael Jordan, LeBron James and Olympian Bob Beamon will tell you that sometimes when you take a big jump, you fall – but it’s how you get up and proceed that gets you to your goal.
Gage Jump probably has jumped to the Athletics a little quicker than expected. Then again, maybe he’ll turn the decision into a slam dunk all the way.
